Understanding and Using the De Minimis Indirect Cost Rate
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Webinar • Thursday, November 29, 2018 • 2:00-3:30 p.m. ET

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$249.00 Understanding and Using the De Minimis Indirect Cost Rate- November 2018 (Live Webinar)

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Live Webinar + CD
$349.00 plus $12 S&H


$349.00 Understanding and Using the De Minimis Indirect Cost Rate- November 2018 (Live Webinar + CD)
Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

Credit Information

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When the Office of Management and Budget issued its “Super Circular” to reform and consolidate federal grants management policies, it introduced a unique concept for indirect cost recovery —the de minimis indirect cost rate. In doing so, OMB officials apparently thought they were simplifying the lives of many recipients and subrecipients. But it hasn’t actually turned out that way. The problems may have started with OMB’s use of an arcane Latin phrase — “de minimis.”

When you look up the term de minimis in a legal dictionary, you get some more Latin: “de minimis non curat lex,” which means “the law does not care about trivial things.” When you consult Webster’s, you get “so minor as to merit disregard.” Unfortunately, when the phrase is applied to the current federal fund management landscape, “trivial” doesn’t describe what’s happening and “disregard” has often been replaced with “confusion.”

Many staff from federal agencies, pass-through entities, recipient and subrecipient organizations, and independent audit firms share in the confusion about when and how to employ the new method and what accounting and auditing steps go along with it.

This webinar is intended to clear up any confusion by analyzing the various policy statements contained in the Super Circular and by answering the many practical “retail questions” that the broad federal grants community has been raising about use of the de minimis indirect cost rate.

During this detailed session, you’ll learn:

  • What is the basis for this new policy, and what are its intended advantages?
  • Which recipients and subrecipients are eligible to elect use of the de minimis rate?
  • Can the de minimis rate be used on some federal awards ... but not others?
  • Can a federal agency or pass-through entity force a lower-tier organization to use the rate?
  • How is the de minimis rate calculated?
  • How does OMB define the required “modified total direct cost” base?
  • What kind of documentation is required to support the rate?
  • How is the rate reviewed during a single audit?
  • What might happen if the policy is misapplied? 

Bob Lloyd, principal of Federal Fund Management Advisor™, will conduct this authoritative session. Bob’s hands-on experience with federal indirect cost policy includes co-authorship of the federal government’s own guide for state and local government development of indirect cost proposals. During his long career in federal award implementation, he has conducted hundreds of training sessions providing clear instruction on grant cost allowability, proper charging practices, and indirect cost recovery.

Who Should Attend?

  • Sponsored projects administrators
  • Federal program managers
  • Finance directors
  • Controllers 
  • Accounting staff
  • Grant and contract manager
  • Internal auditors
  • External auditors

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

Attend this Live Webinar and Earn up to 1.5 CPE Credits

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